Corn rating -5% gd/ex
Beans -3% gd/ex
Grains open higher tonight.
#Soybeans fall to 69% good/excellent from 72%. Iowa fell 6 to 56% and Illinois dropped 3 to 73%. A month ago they were both 76%.
It has been a pretty dry month for a lot of the Midwest and Plains, and the soybeans do not like that, especially in August.
U.S. #corn conditions fell to 64% good/excellent from 69% a week earlier. Conditions did not improve anywhere. Iowa fell 9 pts to 50% - they were 77% a month ago.
This is the main reason that crop ratings dropped so much:
When the grains open, for the corn, it should be a gap higher..........could be pretty bullish.
Not sure if we can open high enough for it to be a gap higher for the beans......it should be close.
Remains to be seen if southern storms kick in with some rain in the eastern grain crops
We are dry but rain is forcast for this week end starting on Fri. We will have a corn crop but kernel depth and test wt make a big difference in yield
That same thing about kernel depth and test wt in some of the best grain growing soils in the western grain belt are suffering from drought, [except if irrigation] with no rain in sight. Some corn in the NW Ill in gods country has corn fields dried up and dead from drought. Looking at the cobs 160 might catch what should be 220 bu crop in any yr
Conditions may drop again next week, considering how many high yielding crops are going down hill fast
This is much more than just storm damaged acres, with yields going down hill, fast
many many reports of beans really showing the stress this week. Northern Iowa beans are turning, ears are hanging down and just after labor day there will be combines rolling. Here in Central Indiana we have had more rain this month but sudden death syndrome is really coming now. Good crops here, great crops in western Indiana where I was last week. Next weeks ratings will show more shrinkage. And on top of all that a major turn day for beans comes in around the 28th. If grains do not break out this week the rally will be capped I am afraid.
The rally so far has been pretty impressive.
Interesting to look back at the last decade. Note the last drought year of 2012, at the bottom.
The previous drought was 1988.
This was a record for consecutive years without a severe, widespread Cornbelt drought.
https://www.star.nesdis.noaa.gov/smcd/emb/vci/VH/vh_browse.php
2020 below
2019
2018
2017
2016
2015
2014
2013
2012
Crop ratings on Monday will fall several % again, led by the areas in orange/red below:
On top of the dry weather, we had some major heat last week in those dry spots.